Sea TV Network, promoted by Neeraj Jain & his wife Mrs. Sonal Jain, Pankaj Jain & his wife Mrs. Chhaya Jain, and Akshay Jain, is an Agra-based company providing services of multi-system operator (MSO) to various local cable TV operators (LCO) of Agra city. It has a network of more than 150 franchisees throughout Agra city. The promoters are in this f activity for last 16 years.

The key benchmark indices eked out small gains to attain their highest closing levels in more that 32 months as firm global stocks and the recent strong foreign fund inflows underpinned sentiment. However, profit booking pulled market off their intraday highs. Index heavyweight Reliance Industries (RIL) cut intraday gains. The BSE 30-share Sensex was up 72.20 points or 0.36%, off close to 150 points from the day's high and up close to 35 points from the day's low. The market gained for the second straight trading session today, 27 September 2010. Realty, capital goods, metal and consumer durables stocks rose. But, FMCG stocks fell. IT stocks, too, fell on a firm rupee.

Ashoka Buildcon, promoted by Ashok Katariya and Satish Parakh, undertakes EPC contracts for roads, bridges and commercial building projects and also operates them on BOT basis. It recently ventured into the power T&D domain and bagged EPC orders from MAHADISCOM.

The market is slated to hit more than 32 month highs in early trade tracking firm Asian stocks after US stocks posted strong closing on Friday, 24 September 2010.The Trading of S&P CNX Nifty futures on the Singapore stock exchange indicated that the Nifty could gain 44.50 points at the opening bell.

The markets continued to rise for the fourth straight week, though there was a lot more volatility. The BSE benchmark index, the Sensex, touched an intra-week high of 20,089, and then witnessed some profit-taking, only to bounce back and settle on a strong note at 20,045, up 450 points for the week.

Ashoka Buildcon, a leading player in the space of building and operation of roads and bridges on a build, operate and transfer (BOT) basis, would issue 69.4 lakh shares — at the top end of the price band — in a bid to mop up to `225 crore. Post-IPO, the promoter’s holding would come down to 71.7% levels from 84.4%.

Headquartered in Chennai, VA Tech Wabag is coming out with an initial public offer (IPO) of 9.5 lakh shares to raise `125 crore. Besides, there is an offer on sale of 26.5 lakh shares by existing shareholders amounting to `350 crore. The issue will result in the promoter's holding slipping to 31.1% from 34.5 % currently. The company has hit the capital market to raise resources to fund its working capital requirements and enhance the existing infrastructure facilities.

L&T plans to spin off its financial services vertical into an independent entity under a separate holding company. The move is aimed at facilitating its application for a banking licence when the opportunity arises. (BS)

The all-time peaks of January 2008 appear within striking distance. Even global markets seem to be resilient. A flood of FII money, and stronger than expected domestic economic data have made India among the best performers. Liquidity deluge has propelled both Sensex and Nifty higher by 2.3% each during the week.

The company is a construction contractor, executing projects across varied segments such as national and State highways and bridges, dams and mining structures. Since its all-time low of Rs 20.7 recorded in March 2009, the stock has been trending upwards, forming higher peaks and troughs.

So, the bulls continue to party on the bourses even as global indices struggle in the face of uncertain prospects for the economic recovery in a few key regions. The revelry may persist on Dalal Street given the strong FII inflows and lack of bad news on the domestic front. The F&O expiry might just make matters slightly more interesting but on the whole the undertone should remain upbeat. No major local event is due next week, but on the last trading day we will get data on monthly auto sales, exports and manufacturing PMI. A slew of global economic statistics will keep vying for attention throughout the week.

A group of investors, including Mumbai-based high-networth investors Rakesh Jhunjhunwala and Radhakrishna Damani picked up an 11% stake in Delta Corporation Ltd. for Rs2bn. The investors will get equity for Rs1.2bn and will further subscribe to Rs80mn of warrants that can later be converted into stock. Jhunjhunwala will join the Delta Corp. board. India's leading corporate lawyer Zia Mody of AZB Partners Ltd. and her husband Jayadev Mody will invest Rs700mn as part of the promoters' contribution. Both together own 48.40% in the Mumbai-based real estate and hospitality firm.

The first Shale Gas well RNSG-1 in Ichapur village near Durgapur in Burdwan District of West Bengal spudded on September 21. In its 209th Board Meeting held on September 22, the ONGC Board noted the following:

The combined loss of Indian airlines will shrink in 2010 but their huge debt burden is a matter of concern, International Air Transport Association (IATA) Giovanni Bisignani said. The international trade body for the aviation industry expects Indian airline companies to narrow their combined loss to US$400mn in 2010 from a combined loss of US$1.7bn in 2009, Bisignani said in New Delhi. "Private Indian airlines are now reporting profits, or at least shrinking losses. In the face of major challenges, the Air India situation is also improving," Bisignani said. Bisignani also said that the Government of India should consider allowing foreign investment in Indian airline companies. "Relying only on domestic sources limits competition and could lead to an investment gap. Moreover, the insular approach cuts India off from global expertise and global trends," he said.

The Indian rupee rose to its highest level in more than four months against the US dollar on Friday and benchmark bond prices gained after the foreign investment ceiling in government and corporate bonds was increased by US$5bn each. The local currency also got support from another strong day for the local stock market and registered its fourth straight weekly gain.

The all-time peaks of January 2008 appear within striking distance. Even global markets seem to be resilient in the face of bleak prospects for the global economy. A flood of FII money, and stronger than expected domestic economic data have made India among the best performers. The liquidity deluge in September propelled the BSE Sensex and the NSE Nifty higher by 2.3% each during the week.